Blockchain.com sees financing at a 70 % lower evaluation: report
Blockchain.com sees financing at a 70 % lower evaluation: report
- The company was last rated $ 14 billion in March, almost triple what it was worth a year earlier
- reports that Blockchain.com is now trying to raise only $ 3 billion
crypto The Stockse Blockchain.com is reportedly looking for financing, but may have to be a considerable setback due to the bear market.
Blockchain.com, which also acts as a financial service company in the crypto room, is in discussions for a round that could bring its rating to $ 3 to $ 4 billion. Bloomberg reports on Thursday.
That would be 70% lower than its Evaluation of 14 billion US dollar in March, as the company one of Lightpeed Capital Ventures cited a series D round for an unnoted amount. The company, founded in 2011, collected a total of $ 490 million in seven fundraising rounds. crunchbase-daten shows.
The move comes afterwards Blockchain.com According to report, the company has a strategic financing round in the third quarter, also in the direction of the British investment company Kingsway Capital. The conditions of the latest deal are still in development and are not yet final.
Blockchain.com was one of several major actors in the industry who were able to dismiss employees under difficult market conditions and reduced 25 % of the workforce in July. About six weeks earlier, Peter Smith, CEO of Blockchain.com, told Blockworks that the crypto ecosystem enters the "desperate phase" of the bear market.
The company was reportedly exposed to the competitive crypto hedge fund Three Arrows Capital, who has iconored $ 270 million since its bankruptcy in July.
all of this, while the risk capital financing (VC) has dramatically slowed down for the cryptoscut, since the prices for Bitcoin and other crypto systems collapse in the middle of a wider market departure.
VC companies around the world invested only $ 4.44 billion in crypto startups in the third quarter, a decrease of 37 % compared to the previous year. said Bloomberg
The flagship cryptofonds from Andreessen Horowitz, one of the best-known VCS in the industry, lost around 40 % of its value in the first six months of this year. As for the size, the entire market for digital assets lost 60 %in the same period.
blockchain.com did not answer block works for comment until the editorial deadline.
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The contribution blockchain.com eyes funding at 70% Lower Valuation: Report is not a financial advice.
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